HUI Monthly Retest 042007

Spot gold is moving higher this morning, which should reverse the move lower in the past few days, in some gold stocks. The HUI – Gold Bugs Index, broke out on the monthly chart, and retraced back to the trendline break.

With a retest in place, you’ve got some recent lows to use a stops. I’m going to enter at least a 1/3 of what I’m planning on holding here. AEM, GG, AUY, MDG, KGC, RGLD, GOLD, and GDX (ETF) are some of the gold stocks on the watch list. PAAS and SSRI are two silver stocks that shuld be watched too. Check out the Gold Stock Bull’s recent analysis on the sector for some more insight.